By Mardiyyah Abubakar
Nigeria’s Dangote Petroleum Refinery exported approximately 466,000 metric tonnes of aviation fuel to Europe in June 2026, surpassing the United States and other traditional suppliers to become the continent’s leading source of jet fuel during the month.
The volume, estimated at 582.5 million litres, is valued at roughly ₦757 billion, based on an average domestic price of ₦1,300 per litre.
The development represents Nigeria’s largest monthly shipment of jet fuel to Europe since the country became a net exporter of aviation fuel in 2024.
According to a market report by S&P Global Commodity Insights, Nigeria’s jet fuel exports to Europe doubled from 232,000 metric tonnes in May to 466,000 metric tonnes in June.
In contrast, exports from the United States declined steadily over the same period, falling from 818,000 metric tonnes in April to 560,000 metric tonnes in May before dropping further to 399,000 metric tonnes in June, allowing Nigeria to emerge as Europe’s largest supplier for the month.
The report attributed the decline in global jet fuel prices to increased production from refineries in Europe, the United States and Nigeria, which created an oversupply in the international market.
A market trader quoted in the report said many refiners postponed maintenance schedules in order to take advantage of previously high prices, resulting in higher-than-expected output.
The trader also noted that fuel shipments through the Suez Canal from the United Arab Emirates have gradually resumed, further boosting global supply.
Market data from Platts showed that the Northwest Europe Jet CIF cargo price for July delivery fell sharply to $981.75 per metric tonne on June 30, down from $1,694.25 per metric tonne recorded on March 30.
Similarly, the August contract declined from $1,507.50 to $968.25 per metric tonne during the same period.
Analysts expect additional supplies from the Middle East and India to continue flowing into Europe as export conditions remain favourable.
While the United Arab Emirates and Kuwait did not ship jet fuel to Europe in June, exports from Saudi Arabia increased significantly from 7,000 metric tonnes in May to 106,000 metric tonnes in June.
India also expanded its exports, with shipments rising from 129,000 metric tonnes in May to 197,000 metric tonnes in June.
Analysts say future supply trends will largely depend on developments around the Strait of Hormuz, refinery operations across the Middle East and the pace of global aviation demand.
